What is Light Vehicle Mirror Market?
The growing automotive industry in developed, as well as developing countries, is expected to boost the global Light Vehicle Mirror market in the forecasted period. the light vehicle mirror is most generally used in various cars including Sedans and SUVs. the increasing urbanization, growing disposable income in developing countries will help to trigger the demand for the global market.
The market study is being classified by Type (Internal Mirror and External Mirror), by Application (Sedans, SUVs, Light Truck and Others) and major geographies with country level break-up.
Ficosa International (Spain), Gentex Corporation (United States), Magna International (Canada), Murakami Kaimeido (Japan), Samvardhana Motherson Group (Germany), Continental (Germany), Ichikoh (Japan), Mitsuba (Japan), Tokai Rika (Japan) and Mobvoi (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are SL Corporation (South Korea), Honda Lock (Japan), Ishizaki Honten (Japan) and Flabeg Automotive (Germany).
Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA predicts that Japanese Vendors will contribute to the maximum growth of Global Light Vehicle Mirror market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Light Vehicle Mirror market by Type, Application and Region.
On the basis of geography, the market of Light Vehicle Mirror has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Automotive Industry Worldwide
- Incresing Inclination towards Buying Cars
Market Trend
- Increasing Demand for Premium Automobiles
- Technological innovation such as Smart Mirror
Restraints
- High Replacement Cost of Light Vehicle Mirror
Opportunities
- Government Stringent Regulations For Safty and Security
- Increasing demand for Automobiles in the Emerging Markets
Market Leaders and some development strategies
On 25 March 2019, Ficosa, a top-tier global provider devoted to the research, development, manufacturing and marketing of high-technology vision, safety, connectivity and efficiency systems for the automotive and mobility sectors, and Panasonic announced an agreement with BMW to provide their co-developed Interior rear-view mirror with electronic toll collection (ETC) 2.0 for the new X5 model in Japan.
Key Target Audience
Light Vehicle Mirror Manufactures, Light Vehicle Mirror Suppliers, Light Vehicle Mirror Distributors, Government Regulatory Bodies, Private Research Organizations, Government Reaserch Orgnizations and Others